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Letter Re: Endgames for the Federal Budget and U.S. Dollar
Mr. Rawles:
Can you tell me in simple terms how will the current Federal budget crisis and the credit market turmoil play out, in like the long run? How can I protect my savings, in all this chaos? Which are the safe currencies? Thanks, – S.G.
JWR Replies: Physical gold is presently heading to China in huge quantities, month after month. (Roughly 1,000 tons of gold per month!) At some point in the near future, the banksters of the West will run out of gold and be left with nothing but a paper-based house of cards. Following the current period of deflation, the end game for Dollar-based debt will likely be: hyperinflation domestically and a concurrent partial debt default, internationally. Mass inflation is the ultimate stealth tax and bail-in. There is no “safe” currency. Your only escape from all of this will be in the form of tangibles. First get your money out of banks and the stock market. Then parlay most of those funds out of Dollars and into practical, barterable tangibles.
Source: http://www.survivalblog.com/2013/12/letter-re-endgames-for-the-federal-budget-and-us-dollar.html
